Introduction

A well-designed budgeting app will make a significant difference in how you manage your finances. It should do more than simply allow you to create a budget—you should be able to track your spending, savings and provide a way to hold yourself accountable as you chase down your goals.

In many ways, a good budgeting app is more than a “budgeting app.” It’s a life planner, financial diary and financial advisor. Put simply, it should provide features that allow you to monitor your financial health. What’s the best budgeting app to replace mint? Look no further.

Here are 11 key features you should look for in a budgeting app, with some extra insight on why they matter:

1. Budgeting Tools

Budgeting is a proactive activity that involves planning for how you will use your money by allocating the maximum expected spending limits to specific categories.

Look for an app that allows you to allocate money to different categories over a specific time frame. There’s no one-size-fits-all when it comes to budgeting, so it would be even better if the app provides different budgeting techniques, e.g., the 50/30/20 method or zero-based budgeting.

The app should also offer visual aids like graphs and charts to help you know whether you’re on track on falling short of your budgeting expectations.

If you need more guidance, you might appreciate an app that provides suggestions on how much to budget based on your income and spending patterns.

2. Expense Tracking

To truly understand your financial habits, you need an app that takes budgeting a step further. You should be able to monitor how the money in your budget was spent.

The best budgeting app for the job will let you categorize your expenses, allowing you to detail where your money is going—whether it’s groceries, dining out, entertainment, or transportation.

Expense tracking allows you to view your spending and break it down by category, making it easier to identify places you might be overspending, and a chance to adjust accordingly.

More advanced apps will allow you to attach receipts and add notes to transactions, which can be useful for future reference and tax purposes.

3. Goal Setting

Aside from creating a budget in and of itself, a good budgeting app should also help you track your goals in a more general sense. The difference between a goal and a budget is in that a goal is a target to be achieved, while a budget specifies a maximum amount of money to be spent. A budget is a type of goal, but not the other way around

Two common types of financial goals include:

  • Saving target, where you set aside some money over a period of time, with the eventual aim of reaching a specific eventual amount—e.g., an emergency fund, vacation, etc.
  • Expense targets specify the minimum amount of money to be spent on a specific category. e.g., if you want to be more giving, you can plan to use “at least X amount on charity.”

Look for an app that allows you to create different types of goals over custom periods of time.

4. Reports and Analytics

Data is powerful, and the more insights you have into your spending, the better decisions you can make. Look for apps that offer detailed reporting and analytics. These features allow you to generate reports on your spending habits, savings progress, or investment performance over time.

Graphs and charts can give you a visual snapshot of where you stand, making it easier to identify patterns, spot problems, or celebrate successes. Some apps even offer comparative reports that can show you how your spending in the current month compares to previous months, helping you recognize trends and adjust accordingly.

5. Data Export

While your favourite budgeting app might offer different ways of visualising your data, it’s often not enough. It might be necessary to export it and to different tools and draw custom conclusions from your data—e.g., using Excel or Python.

A good budgeting app should allow you to export your data in different formats—e.g., JSON, CSV, Excel, etc.

6. Debt Tracking

If part of your financial plan involves paying off debt, you’ll want a budgeting app that helps you stay on top of those obligations. Some apps offer specialized tools for debt management, allowing you to track multiple loans or credit cards, set payoff strategies (like the snowball or avalanche method), and see your progress over time.

These tools can show you the impact of paying off a certain amount, including how much interest you’ll save, which can serve as powerful motivation to continue making extra payments when possible.

7. Multi-Device and Cross-Platform Syncing

Your budgeting app works seamlessly across all your devices. Because desktops offer a larger surface area from which to interact with data, they are excellent for deeper dives into your money usage patterns, while the portable nature of mobile phones provide an accessible way to check your finances on the go.

8. Syncing with Bank Accounts

One of the most time-consuming aspects of personal finance is manually inputting every transaction. Many modern budgeting apps offer the ability to sync directly with your bank accounts, credit cards, and even investment accounts. For a Kenyan budgeting app, linking to an M-PESA account is crucial to ensure your data is up-to-date without extra effort on your part.

In addition to saving time, syncing accounts ensures that your financial picture is as accurate as possible. Some apps even categorize transactions automatically, making it easier to see where your money is going. If you use multiple bank accounts, having all your transactions in one app can help you better manage your cash flow and avoid overdrafts or missed payments.

9. Bill/Subscription Reminders

Missed payments can lead to late fees, interest penalties, and even damage your credit score. That’s why bill reminders are another crucial feature to seek out. A good budgeting app should allow you to set up automatic notifications for when bills are due, ensuring you never miss a payment.

Better yet, some apps allow you to sync these reminders with your calendar, giving you a more holistic view of your upcoming financial obligations. Whether it’s a utility bill, credit card payment, or loan installment, staying on top of due dates will help you avoid unnecessary costs and stress.

10. Security

Given the sensitive nature of your financial information, security should be non-negotiable. Look for an app that takes your privacy seriously and employs advanced encryption methods to protect your data. Encryption ensures that even if the data is intercepted, it cannot be read or used maliciously.

In addition to encryption, consider apps that offer two-factor authentication (2FA). This adds an extra layer of protection by requiring not just a password, but also a secondary verification method—like a code sent to your phone—when logging in. A strong password policy is another important aspect; apps that encourage or require you to use complex passwords are generally safer. Trusting an app with your financial information is no small matter, so make sure it meets high standards of security before committing.

11. Community and Support

A final, but often overlooked, aspect is the level of support and community behind the app. Does the app offer reliable customer service if you run into issues? Are there tutorials, FAQs, or forums where you can get advice from other users? Some apps even offer financial coaching services or partner with financial advisors, which can provide an added layer of guidance.

A strong user community can also be a valuable resource. Sharing tips and experiences with others who have similar financial goals can help you learn new ways to budget or save more effectively.